Why Cityscape 2009 was boring

“We are lucky in a way to see that our stand is witnessing a good flow of traffic,” said Rami Nasser, director of Sales and commercial leasing of Aldar. The developer is showcasing projects on Yas Island, and with the rising interest in the upcoming Formula One grand prix, people are streaming to the stall.

“Between Cityscape Dubai 2008 and 2009, maybe [visitors] last year were slightly more, but this year we’re receiving different types of visitors,” explained Nasser. “In 2008, many people were just coming to see what was going on because of what was happening in the market. Now visitors are coming to actually enquire about projects, so we have more quality visitors this year.”

Zakaria Tarhouni, the head of marketing for Hydra Properties, says that he doesn’t see much difference in the number of interested clients this year as compared to last year. “This year, we are concentrating on serving our existing customers,” he said. The developer has also introduced a new project, called Bawabat Abu Dhabi, which will be located in front of Yas Island. ”

So, is it true that investors’ focus is shifting from Dubai to Abu Dhabi?

“I cannot comment on the demand in Dubai because we are not in Dubai,” said Nasser. “I would say that demand for Abu Dhabi developments remains strong. In fact, there’s a very strong local demand from Abu Dhabi residents because of the shortage of residential housing units.”

IN APRIL /MAY THIS YEAR RERA HAD ANNOUNCED THAT 27 PROJECTS HAVE BEEN CANCELLED IN UAE & SUBSEQUENT TO THIS A LIST APPEARED IN THE PRESS. SOURCE OF THIS LIST WAS UNKNOWN & PERHAPS THE ‘UNOFFICIAL ‘ ONE.

RERA HAS YET TO RELEASE TEH LIST OFFICIALLY. WHAT WAS ALSO ANNOUNCED THAT INVESTORS IN THESE CANCELLED PROJECTS WILL GET A ‘ FULL ‘ REFUND .